In game theory, a Markov strategy is one that depends only on state variables that summarize the history of the game in one way or another. For instance, a state variable can be the current play in a repeated game, or it can be any interpretation of a recent sequence of play.
A profile of Markov strategies is a Markov perfect Equilibrium if it is a Nash equilibrium in every state of the game.
|This game theory article is a stub. You can help Wikipedia by expanding it.|